Davidson Realty, Inc.

Northeast Florida Real Estate Market Update

July 18, 2022

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Posted by in News, Northeast Florida Market Trends

“If you don’t like something, change it. If you can’t change it, change your attitude.” — Maya Angelou

Every headline seems to be negative about the economy and the housing market. If we can’t change the situation, we need to change our attitude about it.

 

This morning we saw that the Consumer Price Index (CPI) rose 9.1% from a year earlier. Housing has the largest impact of any input on the CPI at roughly 40%. The Federal Reserve is very focused on bringing down inflation. As such, they are determined to bring down housing prices by raising interest rates.

 

The June market review from the Northeast Florida Association of Realtors does show signs of the market slowing. Closed and pending sales are down this month and inventory has increased. However, the median sales price for all property types in Northeast Florida of $369,229 continues to rise. It is up 23.1% over last year and 2.6% over May.

 

Experts are not expecting prices to decline but rather that they may increase at a more moderate rate. Forecasts from seven major industry groups were predicting an average of 8% increase in prices for 2022.

 

The median days on the market increased from 13 days to 19 days. This is still very low compared to historical data.

 

The closed sales of 2,968 is down 18.8% from last year and 3.1% from May when there were 3,062 closed sales. Pending sales of 2,748 are down 19.4% from last year and 11.6% from May’s 3,109.

 

The active inventory is 5,508 homes up 15.2% from last year and 20.6% from May’s 4,566. This equates to 1.9 months supply of homes up 24.5% from 1.5 months in May.

 

This is good news for buyers as they have more homes to choose from and not as many competing offers. Sellers may see their home stay on the market a little longer and not have as many offers, but there is still strong demand and low inventory.

 

If you have a change in your circumstances and need to buy or sell, don’t let all the negative headlines keep you from making the correct life decisions. Enjoy your summer and please let us know if we can assist you in any way.

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Congratulations to all our Top Producers for June & the Second Quarter!

July 13, 2022

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Posted by in News, Top Agents

It was not just the weather heating up here in Northeast Florida, June was another sizzling month for our Davidson Realty team finishing the second quarter of this year very strong!  We are especially proud of our top performers who have been working tirelessly to help people buy and sell property in our local market and beyond. Enjoy our Q & A with these special real estate advisors!

 

 

 

Our Top Producer (Closings) for June and the quarter as well as Top Overall Sales for June and Top Buyer Sales for the quarter is Mirtha Barzaga.  Mirtha had over $7.4 Million in closings to end the quarter on a high note.

 

 

 

Q&A with Mirtha:

 

Q1 – In your opinion what’s the coolest design trend you are seeing in homes today?

Mirtha – Flooring has become a big trend, the vinyl plank or wood tile throughout the house is the best way to go.  Painted cabinets are a big trend as well as quartz counter tops and outdoor design living spaces.

  Read more

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4 New Businesses in Northeast Florida You Need To Visit

June 30, 2022

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Posted by in News, Restaurants

Northeast Florida is not only a wonderful place to live but an exceptional place to have a thriving business. New businesses are popping up all over town for residents to experience new and exciting establishments from restaurants to cycling studios. “The First Coast community is always ready to welcome new businesses to the area. With so many flourishing commercial areas and a lively community calendar, there are countless opportunities for businesses to succeed,” shares Davidson Realty President, Sherry Davidson. We’re sharing a few new businesses that are definitely worth checking out. 

 

Rukus St. Johns 

​​205 Bartram Market Drive Suite 160, St. Johns, Florida 32259

Get your cycle on at Rukus St. Johns! Located at Bartram Market, this new locally owned cycle studio brings motivation and high energy to your workouts. Right now Rukus is offering your first ride FREE and invite you to #CauseARukus with them in St. Johns! 

 

Stumpy’s Hatchet House

1719 North Main Street, Jacksonville, Florida 32206

Among the craft breweries, trendy restaurants, and cool shopping spots in Springfield, just north of downtown Jacksonville, you’ll find Stumpy’s – a hatchet house with giant games, beer, wine, and snacks. Stop by the next time you and your friends are looking for something special to do. 

 

World of Beer

5105 J Turner Butler Boulevard, Jacksonville, Florida 32216

After six years, World of Beer returns to Jacksonville! With more than forty draft beers and an additional 200-250 bottled and canned options, beer lovers will be in heaven. World of Beer is a great place to hang out with friends while enjoying a drink and partaking in a few of the items on their extensive menu. 

 

River and Fort 

12 Avenida Menendez, St. Augustine, Florida 32084

Meet River and Fort, the newest rooftop restaurant in the heart of St. Augustine, brought to you by the owners of River and Post in Riverside. Their second and third-floor rooftops are the perfect place to savor a good meal with friends and take in the historic sights of St. Augustine. 

 

The variety of new businesses in Northeast Florida is just part of what makes it the perfect place to live! If you are on the hunt for a new home along the First Coast that is nearby many of these great up-and-coming businesses, let our Davidson Realty team help by calling (904) 940-5000.

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Northeast Florida Real Estate Market Update

June 29, 2022

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Posted by in News, Northeast Florida Market Trends

“My father gave me the greatest gift anyone could give another person, he believed in me.” Jim Valvano

 

The Northeast Florida Association of Realtors (NEFAR) market stats for May are not showing many changes in the local real estate market, but I believe we will see a moderation in the market in future reports.

 

The median sales price for all property types in all 6 counties is $360,000 which is up 24.6% over last year and 2.9% over April. Lawrence Yun, chief economist at the National Association of Realtors (NAR) said recently “Home prices are still hitting new highs, but the pace of appreciation is not likely to continue. It’s just inevitable that home price appreciation will slow down in upcoming months.”

 

We are seeing sellers reduce prices if they are starting out with unrealistic pricing. Fewer buyers are offering extra incentives such as waiving appraisal contingencies and seller closings costs. I agree that we will see slower price appreciation in the coming months.

 

There were 41.3 % of the closings over list price. This is up 13.2% from last year and up slightly from 41.2% last month. This percentage should also come down in the future.

 

There were 4,002 new listings in May up 4.4% from last year and 7.1% from April. The active inventory of homes available were 4,233 which is still down 4.4% from last year but up 11.2% from last month. The months supply of inventory moved from 1.3 months in April up to 1.4 months.

 

I continue to see headlines of the number of resales and new homes dropping; however, it is hard for me to really understand clearly because inventory is so constrained. It is difficult to know if there would be more sales if there were more homes available.

 

There were 2,936 closed sales in May which is down 14.8% from last year and up 0.4% from April. There were 3,097 pending sales which is down 14.3% from last year and up 1.4% from April.

 

To summarize, while the supply of homes available and the days on market are still very low and home prices continuing to increase; the market is showing signs of change with higher interest rates and the stock market moving into bear market territory. In my opinion, It is very hard to predict the amount of change we will see since we are still in such a low inventory situation.

 

Happy Independence Day! Have a wonderful summer and please let us know if we can help you with any real estate needs.

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4 Neighborhoods in Northeast Florida You Need to Explore

June 24, 2022

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Posted by in Featured Neighborhood, Neighborhoods, News

Every neighborhood in Northeast Florida has something unique and special to share with its visitors. “Northeast Florida has something for everyone! With so many things to see and do, you are bound to make lasting memories while exploring the First Coast,” shares Davidson Realty President, Sherry Davidson. We’re sharing a few of our favorite neighborhoods that are worth visiting and exploring for yourself. 

 

 

Murray Hill

Nestled between trendy Riverside and historic Avondale, you’ll find Murray Hill – an old neighborhood with new treasures to discover. Take a drive down Edgewood Avenue to truly get a sense of the good vibes of Murray Hill. A few of our favorite spots to visit in Murray Hill are Bold Birds Nashville Hot Chicken, Moon River Pizza, and the iconic Dreamette! 

 

Atlantic Beach 

Relax and unwind in Atlantic Beach! From the breathtaking beaches and parks to the quaint town, you’ll be entertained for days. Check out local favorites Poe’s Tavern or Sub Cultured for a bite before hanging out at Jack Russell Park. Of course, you can’t pass up the opportunity to enjoy the sights and sounds of the ocean while you’re in the area. 

 

Ortega

The small and historic community of Ortega offers a quiet neighborhood with waterfront views, while still being miles away from the urban core. Sitting just across the St. Johns River from Downtown Jacksonville makes Ortega one of the best places to view the skyline and watch the sunset. Stockton Park is a promising location to take in the best views… and try catching a fish or two. 

 

Downtown

Where do you even begin with Downtown Jacksonville? A place where you can watch a Jacksonville Jaguar game at EverBank Field, catch a show at the Florida Theatre, or eat and drink at some of the best establishments in town, all within a few miles. Some of our favorite places to sit down for a bite are Indochine, Cowford Chophouse, and Intuition Ale Works. 

 

While all of these neighborhoods have their own unique personality, one thing is for sure, Northeast Florida is the PERFECT place to live!

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